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Air India Sale Put-off, Paytm Acquires Tiger Global and Flipkart-backed Cube26 et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 19, 2018 12:27 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday / June 19, 2018) #AirIndia #Paytm #TigerGlobal #Flipkart #RITES #Fujifilm #Xerox #Trump #Chinese #iPhone #OPEC #Transfin

Editor's Comment: Air India sale put off by the government because of the upcoming election year. Interim Finance Minister Piyush Goyal has stated that Air India is achieving operational profits and there is no urgent need of disinvestment.

 

Paytm acquires Tiger Global and Flipkart backed Cube26, which is a New Delhi based tech start up with a seed funding of $7.7million, and has customized Android OS and created applications for various OEMs to give them a competitive advantage.

 

RITES Ltd IPO to open tomorrow, for 12.6% of its entire equity. Government is targeting to raise c. 470 crores, with a price band of INR180-185 per share. Issue consists of 2.52 crore shares for sale, with 12 lakh shares reserved for eligible employees.

 

Fujifilm to sue Xerox Corporation for over $1 billion in damages, because of a cancelled merger. The merger was supposed to bring in cost savings worth $1.7 billion, and further revenue expansion of $1 billion for Fujifilm

 

Trump increases tariffs over Chinese goods worth of $200 billion, indicating a full out trade war in response to China’s recent trade policy. However, as per a discussion with Tim Cook, iPhones assembled in China are to be exempted from these tariffs.

 

OPEC aims for modest hike output hike to overcome Iran’s dissent, and to also balance Russia’s push to increase supply. Members of OPEC are discussing a further 500,000-600,000 additional barrels/day over the course of the next few months, which will still be less than the proposed 1.5 million barrels/day quota.